An incorrigible Cognitive Dissident

GETTING REAL: the raging fire in the hold of SS Eutanic

Fascinating new evidence has emerged this year to show that Titanic was not only going far too fast when it entered a known field of icebergs, it also had a raging fire in the coal hold that eventually sealed its fate. While some think the Titanic analogy in relation to the eurozone is overdone, it now looks like it could be uncannily accurate.

One thing that has been notable (at least, to me it has) over the last few weeks is that, the more the EU racks up the denial-propaganda heat on the EU and its eurozone, the more objective observers with little or no axe to grind are coming out into the mainstream media to remind investors just how big the mess is on a number of levels.

The single currency

The more basic stuff goes back at least twenty years, to the period where trouble was stored up for the future by fanatical federalists cutting every corner and pulling out all the stops to get EMU (the prototype single currency) up and running. Several eminent economists on continents ranging from Australia and the US to the UK and Europe itself made very sound predictions at the time about coming disaster, and they did so saying two related things:

It would offer Germany a cheap, fixed currency leading inevitably to its economic dominance

It would point up the economic consequences of imposing one rigid means of exchange on 18 varietal cultures, leading generally to Southern/South Eastern Europe falling behind.

Just to add more weedkiller to the poisonous formulation, the key European leaders not only ignored the advice; they also first, ignored all the data showing that several member States were nowhere near ready to join the eurozone based on agreed criteria; and then second, were implicated in several corrupt deals on commodities – as varied as German butter, Italian wines and Greek olive oil – to cloud the existence of stark differentials in both export and industrial development.

For once, the economic naysayers proved to be soothsayers. Messrs Hollande and Muscovici shrink from the limelight about their own book on the subject of cultural difference (fancy that) but it proved to be spot on….as did the musings of Lawson and Thatcher et al in relation to Germany’s dominance. The Mark from around 1963 until the creation of EMU was the most reliable, performance-related currency on the planet. But only massive debt forgiveness by the victors after the Second World War enabled that outcome.

Both the realities in that last paragraph explain why lectures from Hollande and Merkel today – when joined by hypocrisy from Draghi at the ECB – evoke so much hatred of the EU’s prime movers among the so-called ClubMed nations….and those of us Brits in the Brexit camp.

I make these points not to be nihilistic, but rather to level the playing field of media coverage that has been so bombed, excavated, deliberately over-watered and then tilted for good luck by Brussels, Wall Street and Berlin obfuscation and mendacity since 2010. A very real outcome of nihilism is being encouraged (and indeed made inevitable) by the EC’s refusal to recognise that – even as the SS Eunatic set sail – there was a raging fire in the hold.

Econo-fiscal amateur-night opportunism

But that was then and this is now: long after that and long ago, the SS Euatic hit three icebergs in a row – and none of them was a lettuce. Corruption Iceberg bumped against the forward hold in mid 2010, when – thanks to blatant illegality in lending by Goldman Sachs, and flagrant embezzlement of said borrowing by the Greek Rightist élite – George Papandreou (having won the election against those very borrowers) quickly discovered the country had a debt which by its very nature was way beyond the ballpark in terms of ezone rules.

Having missed the fire in Hold 3, this relatively small berg would’ve been relatively harmless – had not former German Interior Minister Wolfgang Schäuble decided to steer SS Eunatic towards a second iceberg by (a) refusing to cancel the order placed by Greece with Germany (under NATO pressure) for two submarines costing €150bn, and (b) persuading George Papandreou to exaggerate the size of debt in order “to make the other ezone States take the problem seriously”. Papa is on the whole a nice bloke, but not blessed with the world’s best brain. Wolfie Wheelchair, on the other hand, is a devious shit on a mission to become Eurofinanzführer….and he wanted a vassal State with which to frighten the rest of ClubMed.

Thus, Opportunist Iceberg smashed slap-bang into the fire-ravaged hold with such force that even the 1st Class London passengers noticed it….which must have been very forceful indeed, given that London wasn’t on board.

The consequences of this were clear at the time, but once again Wolfpack Squabble the human U-Boat threw grappling hooks out to Opportunist Iceberg, the better to have it bash again and again into the ship’s weakened hull.

Seven years on, Wolfie and his eurogrope creature Jeraboam Dunghillbloke are still at it, socio-economic vandals with nobody in the modern annals of business coming close to their level of arrogant neo-racist stupidity. Data released yesterday showed another contraction in the Greek economy, alongside an “unexpectedly” steep fall in exports during March. Why was this unexpected, we ask ourselves: equally predictable was a whopping €1.5bn of capital outflow, showing an acceleration to €3.9bn since the start of 2017. The gdp of Greece has now fallen 40% since Spring 2010, and a quarter of the population is unemployed.

Not much to Bank on

But even this is as little compared to the Brussels-am-Berlin decision to do nothing at all about the eurozone’s shambolic banking system. Although from 2009, Wall Street had opted to change a few things in the US equivalent, B-am-B chose the Zero Action Option. So SS Eunatic increased speed into the fog and collided head-on with Banker Iceberg. And among those rooting for the icebergs, this third monster will indeed prove to be the banker when it comes to sending the euro to the bottom.

Yesterday, independent economic analyst Shaun Richards wrote an eloquent pieceon his site inviting eurogrope in particular and Brussels in general to have a reality transplant in relation to the Portuguese bank Novo Banco, the less than worthy ‘good bank’ successor to Banco Espirito Santo.

Meanwhile, Deutsche Bank has launched its capital increase to raise €8bn at a discount of 35% compared to the share price before the capital increase was confirmed. The entire sum will be used to strengthen its balance sheet. This will result in a dilution of approximately 50% for shareholders, as the total share count of Deutsche Bank will increase to 2.07 billion shares.

And Credit Suisse finds itself forced to face the need for a €4.3bn capital increase after years of losses.

Moving slightly south to Italy, Veneto Banks confirmed yesterday a €6.8bn capital shortfall, suggesting that the Italian elephant is now exceedingly noticeable in the room, in that he is dropping humungous amounts of malodorous dung suggesting that things in Italy are now veritably close to finito Veneto.

Type ‘eurozone banking’ into this site, and you should (WordPress willing) find posts from me over the last two years highlighting the bewildering range of banking accidents waiting to happen in Austria, Spain, Italy, Greece, and several niche but important areas in Germany. (Modesty and Presidential ire forbid me as a resident of France from including two large banks here in the A&E category).

Why is any of this relevant to Britain’s own ongoing fire in the hold – viz, the inability of ignorant and ideologically blinded Leftists and Secret Remainers to grasp just what an ethical obscenity, financial black hole and illiberally illegal unit the European Union is?

The answer is twofold:

No other developed country on the planet has such an economic gdp imbalance in favour of banking, financial services, and globally marketed fiscal advice as the UK.

We too have fragile banks and an aversion to effective regulation…both the inbred children of ill-advised lustful intercourse between City Masters of the Universe and Westminster whores.

I realise there is little or no point to this sign-off appeal, but I’ll make it anyway.

I passionately urge all those trying to sabotage, slow down and even reverse the UK decision to leave the European Union to think again….because the longer we remain, the more likely we are to wind up picking up a gigantic tab for the gorging hubris of the federalists.

I do not deny that some of those engaged in negotiating with the EU – which is not a State, and has never filed accounts, let alone had them audited – are overconfident plonkers of the first order. But I am asking those with a brain and an open mind to accept that Brusselian megalomania and Frankfurt sociopathy have destroyed the European dream to which many of us signed up in 1975.

Nor do I present the same rosey picture of the future depicted by gargoyles like Liam Fox and Boris Johnson. It is going to be tough. But very soon, it’s going to be tough for every human being around the globe…and in that sort of backs to the wall context, aren’t we Brits supposed to be not only grittily determined, but also more humanely communitarian?

I leave you with that introspective challenge. And to be brutally frank, I don’t care a monkeys if it ruins your weekend: better one ruined weekend than a slide into not being allowed weekends at all.

56 thoughts on “GETTING REAL: the raging fire in the hold of SS Eutanic”

Listen up everyone, this is the second time in four days a post at The Slog has been ignored by many in favour of sounding off about this and that hobby-horse. This isn’t a forum free4all, it’s a blog. If you’ve got nothing to say about the content, say nothing.
The next time people forget their manners on this scale, I’m going to stick the offending threads into pending. So either way, you will wind up saying nothing publicly. Dont forget to find me on Twitter, but again if you disagree with my infinite wisdom you will be put into quarantine with my poodles. I write the blog my way. If you comment, please agree or else you will be deleted, your isp will be blacklisted forever and you may get a knock on the door from my auntie mary in a negligee,

This blog is a contrived twittering nonsense put forward to educate the educated in Great Britain with its head up its arse wearing tight jeans and sipping wine and based on my own vast experiences running chocolate biscuit adverts in Croydon during the 1970’s with one swivel eye glued to the television for fake experience to feed the imagination.

Do we have a license?
Do we have a license to gob off over the public internet like a mouthpiece with agenda. Answer NO.
Regulation is coming. Too many proles spouting nonsense on the airwaves which pollutes and infects everyones brains.

Since someone mentioned the SS Titanic and I have spotted here several errors on the subject, I recommend this book, which I consider the best informed, truthful and considered: “Titanic – a fresh look at the evidence by a former Chief inspector of Marine Accidents”, by John Lang, Seafarer Books, Rowman & Lttlefield Publishers, Inc., 2012.
I don’t sell it. All good booksellers etc.

Excellent stuff, John Ward. Well up to the mark. I’ll start at the end.

I’m a Brit who moved to Australia and then moved back to UK because of this European dream, following the fall of Soviet communism. It was an opportunity that comes only once in several generations. I’m now back in Australia.
That most people do not understand what the EU really is or what its intentions are is a great tribute to what must be the longest and most successful propaganda campaign in history. You only have to read what Monnet, Schuman and others were writing in the foundational years to know. It has not changed. It was not expected that people would willing vote for it at least until the existential crisis occurred, inevitably caused by the Project’s built in weaknesses and defects, in such a way that a ‘free’ choice of uniting under one federal state or declining ineffectually into irrelevance, could be presented. Therefore deceit and secrecy were guilt in a modus operandi from the beginning.
It is an extraordinary feat that such a project could achieve such success.
There is also the plaque at the visitors’ entrance to the EU Parliament. It proudly declares: “National sovereignty is the root cause of the most crying evils of our times….The only final remedy for this evil is the federal union of the peoples.”
Freedom and democracy have never thrived beyond the realm of the nation state. The EU intentionally conflates National Socialism and Patriotism.
It is now throughly exploitative and seeks power for no purposes other than the interests of its elites and imperial expansion
Technocratic government can last only so long as the propaganda continues to work. Its education programs are vital to its survival.
Various studies of why nations and civilisations fail show many common factors and patterns of failure. Failure was built into the EU at conception, long before birth. Aside from its extraordinary gravity defying propaganda success, there is one other: it has institutionalised incompetence to heights of sophistry that surely betokens genius and it was done by committee, no dictators here!

Somewhere along the line in this bunch of bizarre comments, everyone thought it was a good idea to talk about Syria. I’ve just posted on that….after everyone started talking about it. Time is a fascinating concept, but this is my blog, and if you arrive here without apology and talk about something else, I’m afraid I regard it as taking the piss.
Gemma, I have no compunction to be mindful of you or any other reader: this blog is free to all comers. As to dealing with trolls, be careful what you wish for.
I’ve said this a hundred times, but it bears repeating: it’s bloody obvious which comments are from our resident cross-dressing hobgoblin, so just ignore the silly twat. I don’t have the time to spend all day persuading ISPs to get rid of him, but if you want to volunteer Gemma, feel free.
The Syrian post (unless you’re already all talked out on it) is here:https://hat4uk.wordpress.com/2017/04/08/fake-news-in-syria-why-this-is-donald-trumps-bay-of-pigs-moment/

However you look at this Russia has failed in its duty to supervise or control chemical weapons on Syrian soil, has always lied about allegations apportioning blame, and finally has failed miserably in its elementary duties as guard dog. In other words, they have been found out, and they won’t be enjoying the experience. Maybe some jaw jaw is better than war war.

The Tomahawk missiles fired by the US Navy cost approximately $1.4 million each.
Shares of Raytheon, which makes them, gained 2.3 percent increase.
Raytheon’s value has gone up $1.4 billion to $45.4 billion.

Tried to post this earlier this morning but Weirdpress objected several times. Since I wrote this comment it seems that Weaver D has added to the insanity of Kirsten.

@Kirsten

I don’t know if you’re trolling or not, but if you are serious, the phenomenal stupidity betrayed by your post is terrifying. Why would an illegal act of war by a country that has shown nothing but contempt for international law for the past two decades “need doing”? It should be obvious to anyone with a modicum of critical thinking skills that the ‘gas attack’ was either staged to provide a fig-leaf for U.S. intervention, or was the result of a Syrian airforce attack on an ISIS/Daesh stockpile that was then used for the same purpose. Assad somehow got through medical school in the U.K. and yet you somehow believe that he is enough of an imbecile that just as he is about to consign ISIS and its associates to the dustbin of history, he carries out a totally unnecessary chemical attack on a region swarming with children and cameramen. This is done a couple of days after the Trump administration concedes that he will stay in power.

I realise that you would require a memory slightly longer than that of a goldfish to keep track of this but exactly the same attempt was made during the Obama ‘red line’ incident. In that case, the U.N. and even Seymore Hersh concluded that the Wahabbist terrorists were responsible. Hersh even came out and alleged that the Hildebeast herself had authorised the transfer of Libya’s sarin stocks to ISIS/Daesh/’Moderate rebels’. If, as is alleged by the golems in the MSM, the gas used was sarin, why would the ‘White Helmets’ – (you couldn’t make it up so MI6 had to) – be handling the victims without gloves? Just in case your knowledge of chemical warfare agents is as extensive as your knowledge of international law, I should explain that sarin is a nerve agent and is absorbed through the skin.

As to the threat posed by Russia, might I sug*est broadening your reading matter beyond the facile twitterings of the Neocons who infest Newsweek. The S*ker would be a good start.

America and Russia have been playing good cop bad cop for decades taking it in turns to bomb the daylights out of some country or other.
When you do the research I fail to see how people can believe that these two countries have differing agendas
Israel is waiting in the wings to take over the middle east.
All going to plan so far

Gemma
With the weekend approaching I would have thought that like most of us of the fairer sex, you were spending a lot of time in the kitchen preparing sumptuous temptations and cleaning the bedrooms and the bathrooms.

Gemma
With the weekend approaching I would have thought that like most of us of the fairer sex, you were spending a lot of time in the kitchen preparing sumptuous temptations and cleaning the bedrooms and the bathrooms.

Gemma
With the weekend approaching I would have thought that like most of us of the fairer sex, you were spending a lot of time in the kitchen preparing sumptuous temptations and cleaning the bedrooms and the bathrooms.

Gemma
With the weekend approaching I would have thought that like most of us of the fairer sex, you were spending a lot of time in the kitchen preparing sumptuous temptations and cleaning the bedrooms and the bathrooms.

Gemma
With the weekend approaching I would have thought that like most of us of the fairer sex, you were spending a lot of time in the kitchen preparing sumptuous temptations and cleaning the bedrooms and the bathrooms.

A note from a Russian observer on Facebook noted several important details about the attack.

1) Only 23 of the missiles got to their target. That means 36 missed, possibly through electronic counter-measures. It has to be asked why Putin allowed the rest through, but that’s politics with the USA… nothing is ever simple. Russia may be shielding its true power in this respect: to pull the rabbit out of the hat now would be to allow the Americans to know what they’re up against.

2) The airfield that was attacked suffered minor damage to hangars and a fuel storage facility. The runways were not damaged and the airfield is still operational.

3) No chemical weapons depots were damaged owing to the fact that Syria doesn’t have any.

“In your analysis you forgot to mention Britain’s escalating government deficit – that really is the fire in the hold!! Not forgetting their newly published (and well hidden) figures for its debt which now stands at £3,5 trillion.”

The snowflake generation are naturally disturbed by any violence. Russia has a dictator who walks the walk into Crimea, Ukraine, Syria, shoots down civilian airliners, condones the use of chemical weapons and threatens sovereign states that it has already lost to the west.
Unfortunately for Russia, others won’t accept that behaviour, incl governments in USA, Australia, France and the UK to name a few and the United Nations.. If Putin wants to continue to posture, he will meet resistance from a US president with balls, and the power to resist. America can find the manpower, but europe will have difficulty getting the youngsters to fight because they have been truly castrated by political correctness over the last 30 years or so, and are being taken over by muslim peoples because syria was not neutralised under Obama’s presidency.

Kerstin, you must be one of the few that still believes the Russuphobic propaganda that emanates from the US Media ,of which Newsweek is a part.
Have you not learned from the Iraq WMD lies. You are disappointed we did not go to war with Syria 6 years ago, but we have surreptiously supported this war on Assad since that time. How many more Middle East countries do you wish to destroy.
The US has been causing mayhem in the world since WW2 , remember Vietnam and its adjoining countries, Yugoslavia,Ukraine, Afghanistan, Iraq ,Yemen ,Sudan, Somalia ,Libya and more.
The US is like a rabid dog and will continue creating mayhem until it collapses or we are all wiped out in a Nuclear war.

If Russia was informed of the attack in Syria presumably they informed Assad and assets were moved. Probably the air defences were turned off to keep their capability an unknown until really needed.
This was an unprovoked illegal attack based on unfounded allegations.
Back in 2013, a much wiser Donald Trump tweeted the following
AGAIN, TO OUR VERY FOOLISH LEADER, DO NOT ATTACK SYRIA – IF YOU DO MANY VERY BAD THINGS WILL HAPPEN & FROM THAT FIGHT THE U.S. GETS NOTHING!

Has deep state taken over the presidency?

WW! started over superficial trivialities that unleashed a monster. Is history repeating?

This is only on topic because it is a tyrant’s way of dealing with the problems JW describes in his article. That is to say, they blame everybody else rather than deal with their own internal problems.

The Irritating Flea. How many of my comments have you actually read? I don’t think the term ‘Nordstream2’ has actually been mentioned on this blog. Perhaps next time you will do your homework before making a flea of yourself?

KFC“Ah, but you missed one small but very important factor: Washington. None of the actions of any of the players in the aforementioned scenario have been of their own making, Washington contols all.”

Add that to making it difficult to post comments on WordPress and I think you get the picture…

As to Germany, you have to look very carefully. Germany scored a major coup with Nordstream 2 and they did it right under their minders’ noses. And there was nothing the EU or Washington could do about it.

Off topic, but the Americans entered WW1 on the 6th of April 1917… was their illegal act in firing off Tomahawk missiles their way of remembering – or was it something more sinister?

In your analysis you forgot to mention Britain’s escalating government deficit – that really is the fire in the hold!! Not forgetting their newly published (and well hidden) figures for its debt which now stands at £3,5 trillion.

Now let’s see if WordPress censorship software is working this morning… Merkel isn’t alone in being pressured to say the right thing. If you’re being targeted by censorship, someone is trying to tell you to toe their line.

Let’s be clear, the UK govt failed to vote for this 6 years ago, while O’Dumbass did nothing other than finish his round of golf. This statement from Trump badly needed doing ….
Interesting that the great air defences supplied by Russia were asleep.

Economics may be the least of our worries. All hopes that the Donald would put a stop to the regime change wars in the Middle East died last night.
The US bombed a Syrian airfield with Tomahawk missiles from Navy Ships in the Meditteranean. This is an act of war.
It would appear Trump fell for the ISIS ploy that Assad made a chemical weapon attack on his citizens.
Or just Trump buckled under Neo-Con pressure and went along to get along.
The Russians have 2 choices, abandon Assad or face off against the US Military. Dangerous times.

The EU has an astonishing capacity for self delusion , Brexit is the one hope on the horizon , which May and her cronies are doing their best to water down to such an extent that the UK remain members in all but name ,probably an even worse option,what little influence the UK had will totally disappear ,without even having any representation in the EU parliament which at least kept the country aware of just what was happening despite the best efforts of the BBC , UKIP at least made some impression on the more astute voters , otherwise the referendum result would have been entirely different .